Bayesian Statistics 09302024

1) Recap of posterior predictive distribution with variance known
-Discussion of posterior predictive when variance (or precision) is unknown
2) Confidence verses credibility
Confidence intervals/sets: converge intervals/sets with the property that repeating the process will result in intervals/sets that cover the truth with some frequency.
Credible intervals/sets: Belief Intervals
3) Example: normal
Credible and Confidence intervals are the same in this case

Next time: We’ll see an example where the Bayesian and Frequentist answers differ